This paper briefly outlines the sub-prime lending crisis and how it came about, including an explanation of who were the lead players involved in the popular practice of securitization, and American courts' approach to exotic financial products. It also explains some of the differences between...

Effect-based analysis is genuinely implicit in economic reasoning. The jurisprudence developed throughout the debt crisis reveals frequent recourse to effect-based analysis for the legal assessment of the compatibility of anti-crisis instruments with EU law. The dividing line between the...